Peru-Australia FTA to boost trade with fastest growing country in Latin America

Peru-Australia FTA to boost trade with fastest growing country in Latin America

10 Nov 2017

"Australian exporters of mining technology and services are among the many beneficiaries of the freshly signed Free Trade Agreement with Peru finalised by the Prime Minister and Trade Minister at the APEC meeting in Vietnam," Australian Industry Group Chief Executive, Innes Willox, said today.

"The Peru-Australia FTA will have a head-turning effect on a market that despite being a mystery for many Australian businesses is the fastest growing economy in Latin America.

"Australian resources firms are already operating in the country and the Agreement will build on that growth and open up new opportunities for other sectors including agriculture. Australian sugar producers are big winners and will have immediate duty-free access for large volumes of their product.

"As a member of the Pacific Alliance, Peru has been undertaking a number of pro-trade reforms that have increased trade with Australia and attracted greater investment from Australian companies looking for a secure bolthole in the region," Mr Willox said.